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Getting business finance…with a CCJ?

Published on 14th February 2017 - Last update on 8th December 2019

Have you been looking for funds to grow and sustain your business? Did you bring up a CCJ and it raised a few eyebrows? Did you go to your bank but were shown the door?  All is not yet lost – alternative finance could save the day!

No doubt you already know that a County Court Judgement is a court order demanding payment for debts that you owe. You’ll also know that this can cause havoc when applying for business finance from traditional high street banks. So, isn’t it time to make a break from tradition?

Breaking away from tradition

With alternative finance, your business can gain exposure to a truly immense range of finance products that you may not have even been aware of. Of course, CCJ’s can still prove quite bothersome, but there may yet be alternative lenders still willing to give your business a chance.

When applying, it is important that you note that the lower your credit score the more interest you will be required to pay. Plus, if you have a CCJ, the best advice anyone can give you is to be upfront about it and, if possible, get it paid off as soon as you can. Yes, the CCJ will still be visible, but having it resolved can raise your credit score and save you money in the long run. After all, it’s better to have a resolved CCJ than an outstanding one!  

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At Rangewell, we support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.

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David Harrison

David Harrison

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